Preparing to Operate a Business

Your Task is to determine a product that would be popular with your peers in this classroom setting.

1. Start by brainstorming ideas, a good rule of thumb is 3 to 5 ideas.
2. The narrow your list down to one product or service and complete the following.
   1. Name your business!
   2. Design a logo and create a "tag line"
   3. Create a prototype, or some sort of illustration showing what your product would look like or what you will be doing.The more details the better!

• Research the actual cost of materials and supplies needed to start this business.
  • Complete this using a spreadsheet!
• Consider making less, as it is better to run out, than have too much.

• Survey your market (classmates) to determine the supply and demand.
  • The key to a market survey is having willing and able participants.
• Create a Demand Curve – Showing the number of purchasers compared to the product price.

• Complete a projected cash flow - this will get you started make it yours by renaming it to cashflow_yourbusinessname:
  

  cashflow_sample.xls
  

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1. Summary of market survey
2. Demand Curve
3. Projected Budget (actual cost, projected sales and purchases).
4. Completed loan request form business+Bank of Mrs.docx
5. Cash Flow